It has been a bullish day for cryptocurrencies after the SEC announced that its chairman, Gary Gensler, will resign on January 20, 2025, the same day Donald Trump begins his second term as President. Bitcoin (BTC) now nears the crucial $100,000 mark, and altcoins have surged following the announcement.
It’s been a bullish day for Bitcoin (BTC) and some of the top altcoins such as Ripple (XRP), Solana (SOL), and Cardano (ADA) after Gary Gensler, chair of the SEC, announced his departure from the role on the same day President-elect Donald Trump begin his second term. The market reacted favourably to the news, with altcoins including Ripple (XRP), Solana (SOL), and Cardano (ADA) making notable gains. BTC surged to a new ATH of $99,502 and will likely soon reach the critical $100,000 level.
The news of Gensler’s upcoming resignation fostered renewed optimism in the market, leading to incredible price runs for altcoins. Join us as we delve into today’s top gainers and explore Husky Inu (HINU), the latest Solana-based memecoin with incredible profit opportunities.
Ripple (XRP) Rallies as Gensler Plans to Step Down
Ripple (XRP) has witnessed one of its best trading days, and its price gained over 25% after news of Gensler’s planned exit surfaced. Ripple Labs has been embroiled in a highly publicized legal battle with the securities agency for which Ripple paid a hefty price. In 2020, the regulator sued Ripple for its supposed breach of securities laws, resulting in many exchanges, such as Coinbase, Kraken, Bitstamp, and Gemini, choosing to delist XRP. Ripple finally found some relief after a partial victory in 2023 brought an end to the SEC’s 3-year-long crusade against the company. The Southern District of New York Court delivered a partial victory to Ripple in its matter with the SEC after Judge Analisa Torres ruled that Ripple’s XRP token is “not necessarily a security on its face.”
XRP’s price gained over 26% in the past 24 hours, reaching a day-high of $1.50. XRP’s total market cap increased to $81.22 billion, and its 24-hour trading volume surged over 234%.
ADA Jumps 13% After Cardano Releases Updated Constitution
The Cardano Foundation, developers of the Cardano blockchain, released an updated proposal for the Cardano Constitution to improve network governance. The revised proposal includes changes to constitutional workshops, social media discussion, and expert and community feedback. The changes aim to “improve the accessibility and clarity of the Cardano governance framework,” shifting its focus to a less technical audience. Cardano’s ADA surged 13% after the updated proposal was made public.
ADA is one of the top-gaining altcoins, surging by over 153% in the past month. The altcoin skyrocketed after Cardano founder Charles Hoskinson revealed plans to help shape US crypto policy under Donald Trump’s incoming administration.
Solana (SOL) Reaches New ATH
Solana (SOL) is one of the hottest altcoins this year, with gains exceeding 367% in the past year. The Solana network is the go-to platform for memecoin developments thanks to its ability to handle high TPS at low transaction fees. The power of the Solana blockchain and the network’s robust and active community make it the ideal space for memecoin development.
Solana (SOL) has become a formidable player in the crypto space, and now it is targeting a considerable part of Ethereum’s (ETH) market share. SOL reached a new ATH of $263.70 today as Solana ETF regulatory filings surged after Gary Gensler confirmed his departure from the SEC.
Great Things Ahead for Solana-Based Husky Inu (HINU)
Bitcoin is reaching its peak dominance after the halving event earlier this year, which signals the start of the altcoin season. Alt season means investors turn their attention to smaller projects, which leads to significant price gains for these projects. Altcoins have witnessed a considerable run recently spurred by Trump’s election win and news of Gary Gensler’s exit from the SEC.
As BTC trades at a record price and altcoins reach new heights, investors must look for well-priced alternative investment opportunities to profit from the bull run, and Husky Inu is precisely that.
Husky Inu (HINU) is the latest Solana-based memecoin to grace the market. Husky Inu was created to bring its holders more value and utility by leveraging this powerful blockchain. The project and its native token, HINU, want to make their mark on the saturated memecoin market by building a supportive community with innovative features and enhanced rewards. Husky Inu recently launched the presale for HINU, and the fundraising has attracted a fair amount of attention. Since going live, the presale has generated over $563,000 and will soon reach its fundraising target.
Husky Inu’s presale success is powered by its unique qualities and future plans, aiming to its own Earn App and Decentralized Exchange. The Earn App will reward users with HINU tokens for engaging with the projects and completing minor tasks such as liking, reposting, and sharing content. Husky Inu’s Decentralized Exchange will facilitate decentralized trading and, in doing so, will improve the utility and value of HINU for its holders.
Visit the following links for more information on Husky Inu:
Website: Husky Inu Official Website
Twitter: Husky Inu Twitter
Telegram: Husky Inu Telegram
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
